Sherif

Writing about AI, crypto & emerging tech.
Ambassador @ethena & @okx • #NFA

[Sherif @SherifDefi]

Thanks @surgence_io 🫱🏻‍🫲🏼

[Surgence Labs @surgence_io]

Creators to Watch in 2027.

Surgence Labs has coordinated over $10M in campaign spend. To the creators who made it to this year's list: congrats.

View directory: https://t.co/KmbBgrysFI

[Sherif @SherifDefi]

People already use AI for different things.

But end up switching between multiple apps, accounts and tools to get things done.

@Hysen_SI is trying to bring that into one place.

One AI assistant, with separate spaces for work, personal tasks and contributions through the HYRA Network.

They’re also rebuilding the app and website, with a new UX coming soon.

Meanwhile, their Zealy campaign is live with 500 USDT in total rewards:

— 250 USDT distributed each week
— Complete quests and earn XP
— Ends Nov 22, 05:00 UTC

🔗 You can join through my link: https://t.co/qkAyasEwqd

#HysenSI #Zealy

[Sherif @SherifDefi]

The breach on @near_ai shows what a tee does not cover.

An attacker used a remote code execution flaw in sglang, the open-source inference engine, to run code on one server.

Sglang runs inside the tee, so requests sent in confidential mode on november 8 could have been seen.

Near ai says the tee does not protect against a flaw in the software running inside it.

Separately, 18 agents on a legacy deployment sat outside the tee. their chat history, settings and logs were taken.

Near ai has not said whether brave's leo chats, which run on its tee, passed through that server.

[NEAR AI @near_ai]

Update: On November 8, an attacker used a vulnerability in SGLang, the inference engine we run, to access part of our infrastructure. We’ve closed the access and fixed it.

Affected users have been contacted. If you haven’t heard from us, no action is needed.
https://t.co/iuRUo7dBW4

[Sherif @SherifDefi]

I like tokens where i can check the usage myself. AVA is one of them.

@travalacom is a crypto travel booking platform.

Binance-backed, running since 2017, over $113M in gross revenue in 2025.

Here's how the token fits in: AVA Smart members earn AVA on their bookings.

And every month the AVA Foundation buys that AVA back on the open market.

Then, travala matches it and locks its share in a Strategic Reserve it has committed never to sell.

The foundation has bought back over 5M AVA so far, and about 600K sits in the reserve.

The wallet is public, so you can read it yourself.

Travala can change or stop future buybacks.

If the setup makes sense to you, you can check AVA on Binance, and also on Bybit, Bitget. not advice, dyor.

[Sherif @SherifDefi]

@9FStudioArt Gmmm

[Sherif @SherifDefi]

Lumière paycheck paid x402 endpoints 45,152 times over six weeks, then checked what came back.

95.1% of endpoints delivered what their listing promised on their latest test.

The average call cost 0.87 cents, and 85% of payments sat between a tenth of a cent and a cent.

The part rarely priced: of 5,123 confirmed bad responses, 3,151 still charged the buyer. sellers refunded 87.

Per the testers, most sellers settle before they run the request and few have a refund flow.

In a market of sub-cent calls, a bad call is paid for by the agent’s wallet.

[Sherif @SherifDefi]

bitcoin fell less than the nasdaq on thursday. it also fell with it.

$BTC: about 5.9% in 24 hours, to a seven-week low near $75.2k.

Nasdaq 100: down 6.36%. coinbase and strategy: each down more than 9%, in line with nvidia at 9.26%.

The coin held up better than the stocks built around it.

$1.26b of liquidations, 88.6% of them longs.

[Alex Krüger @krugermacro]

Today marks the second time in history the Nasdaq fell more than 5% and Bitcoin fell less than the Nasdaq.

The other time was on March 16, 2020.

Mar 16, 2020: QQQ -12.0%, BTC -10.6%
Nov 5, 2026: QQQ -6.4%, BTC -5.3%

[Sherif @SherifDefi]

The word I’m looking at here? It’s “back.”

sUSDe is at 5.25% again, and I’d love to see what changed in the weeks it took to get there.

How much of the rebound came from Ethena’s hedges, and how much came from staking and its stablecoin holdings?

If traders are paying more to stay long, some of that extra yield can disappear as soon as positioning cools.

I’d be curious what sUSDe would have paid over the same period with perp funding at zero.

[Ethena @ethena]

sUSDe is back above 5% rewards APY.

Market-leading rewards at scale.

[Sherif @SherifDefi]

Four days made up 42% of every ERC-8004 agent ever registered.

— The spike on the chart: oct 20 to 23 - 857,474 registrations
— The peak day logged 373,759, the next day, 10,203
— A second hump followed from november 1st to 4th

The table shows where they live: base, bnb and arc hold over 91% while ethereum, where the standard launched, holds under 4%.

A spike that falls back within a day is a campaign.

Before quoting the total, ask how many of these agents have paid for anything.

[Sherif @SherifDefi]

One of the more interesting changes at @ethena is the decision to stop using ENA emissions to incentivize USDe growth.

Ethena says it’s already distributed over $800M in ecosystem rewards.

That’s substantial, but it also raises a question I’ve had about yield-bearing stablecoins: how much demand survives when the subsidies disappear?

USDe has established distribution across major exchanges and lending markets. Now I’d be watching supply, organic borrowing demand and how much capital stays without additional incentives.

To me, the next phase will tell us more about USDe’s product-market fit than the previous growth figures.

[Ethena @ethena]

Here's what happened @ethena in October:

• Passed $800m in total rewards distributed.

• Partnered with @ether_fi to launch their own stablecoin, powered by Ethena Whitelabel.

• Launched Earn+ on @EthenaPay. Users can earn up to 12% rewards in a single tap.

• USDe went live on @XLayerOfficial and OKX @wallet, with one-click USDe looping in OKX Wallet coming soon.

• Standard Chartered initiated research coverage of Ethena, forecasting ~8x USDe growth over the next two years.

• Operated through the Binance-related security incident with no issues.

• @EthenaPay crossed $5m in card volume, while still in beta.

• USDe on Monad crossed $100m for the first time.

• USDe became the second-largest dollar asset on @base behind USDC.

[Sherif @SherifDefi]

Tokenized Treasuries made sense as a starting point.

They’re relatively straightforward to bring onchain.

Emerging markets debt is a different story.

You’re dealing with sovereign and corporate credit, currency exposure and markets where active management actually matters.

That’s why I find @Schroders bringing its first tokenized strategy to @solana through @centrifuge more interesting than another big AUM headline.

I’m curious how much of the traditional fixed-income market tokenization can eventually accommodate.

[Centrifuge @centrifuge]

Centrifuge is bringing @Schroders' first tokenized investment strategy onchain.

Introducing $SISF, the Schroder International Selection Fund Emerging Market Bond fund, powered by Centrifuge and now live on @solana.

Beyond Treasuries and short-duration credit, $SISF expands onchain access to sovereign and corporate bonds across global emerging markets, adding a differentiated source of risk and return to digital capital markets.

With over $1 trillion in assets under management, Schroders is one of the world's leading active asset managers, bringing more than 50 years of emerging markets debt expertise to onchain capital markets.

"Working with Centrifuge enables us to make our expertise in this area available to a new generation of investors and continue to innovate in the delivery of investment solutions.” – Marita Mcginley, Head of Operations, APAC and Digital Assets, Schroders

[Sherif @SherifDefi]

Firedancer now charges 1 $SOL per bug report. About $100, burned, nonrefundable even for duplicates.

The trigger was a $1m audit contest: 809 reports from 162 researchers, 127 unique findings.

Jump believes nearly every report was found or written by an agent.

Its reasoning is agent economic: a guess costs an agent some tokens, judging that guess costs a human hours.

The burn targets researchers hoping to win back their token spend in rewards while triagers absorb the checking.

There was a second loop: slow triage left bugs unfixed, so other agents kept rediscovering them.

About 80% of duplicates arrived more than three days after the original report.

[Sherif @SherifDefi]

The gap between protocol adoption and token value capture is worth paying attention to.

@ethena is a good example.

Its approved fee-switch framework would direct up to 95% of eligible net revenue toward $ENA buybacks, but activation depends on USDe reaching a $7.5B supply threshold.

That distinction matters.

A protocol can generate meaningful fees without its token automatically capturing them.

I think the real question for $ENA is whether USDe can grow enough to activate that mechanism while keeping its economics sustainable.

Revenue matters. How much reaches tokenholders matters just as much.

[Ethena @ethena]

Here's what happened @ethena in October:

• Passed $800m in total rewards distributed.

• Partnered with @ether_fi to launch their own stablecoin, powered by Ethena Whitelabel.

• Launched Earn+ on @EthenaPay. Users can earn up to 12% rewards in a single tap.

• USDe went live on @XLayerOfficial and OKX @wallet, with one-click USDe looping in OKX Wallet coming soon.

• Standard Chartered initiated research coverage of Ethena, forecasting ~8x USDe growth over the next two years.

• Operated through the Binance-related security incident with no issues.

• @EthenaPay crossed $5m in card volume, while still in beta.

• USDe on Monad crossed $100m for the first time.

• USDe became the second-largest dollar asset on @base behind USDC.

[Sherif @SherifDefi]

This was the biggest gamble of the century

Homebrew was not specifically targeted towards the Binance dev

It just happened that they caught a binance dev and the rest is history

Insane

[Binance @binance]

https://t.co/sU9dUqLQDH

[Sherif @SherifDefi]

Binance wallet changed how you can log in to its agentic wallet.

QR login from third-party sites that trip its real-time risk rules is now restricted, and those sites get logged out.

The announcement cites users reporting failed qr logins. it does not cite losses.

What it points at is the login step: the agent sits behind limits you set in the app, enforced at the api level.

The qr code is what connects an agent session to your account.

Binance’s own advice: don’t scan qr codes from unofficial platforms, and use only trusted agents naming binance ai pro, claude, codex and grok.

[Sherif @SherifDefi]

@0xCabana GM Cabana! 📈

[Sherif @SherifDefi]

The co-founder of @monad is telling teams to run an ai fuzzer on their contracts.

Fine. Read the setup line first: run it on a disposable, isolated vm.

Ultrafuzz uses agents to investigate and test contracts. that means an agent is executing code on your machine.

A throwaway vm keeps whatever it touches away from your keys and your repos.

The same guide cites chainlink-style loss data: hijacked control costs the industry far more than contract bugs. so before you fuzz anything, check who can sign and which devices can reach your admin accounts.

The fuzzer covers bugs in code. The guide covers where the bigger losses come from.

[Keone Hon @keoneHD]

In this age of AI-empowered attackers, the only way forward for our industry is to continue hardening. Security should be every team's top focus.

The Monad Foundation invests heavily in security and is sharing the following resources to the community:

Everyone:
- The Crypto OpSec Bible: https://t.co/svOON5BunV

Smart contract developers:
- Importance of not relying on EOAs for admin roles: https://t.co/3wJlVY1oFa
- Importance of only signing admin functions on a dedicated laptop: https://t.co/k37HGj4eFV

Hardening code with Ultrafuzz, our open source tool for agentic fuzzing and threat hunting:
- Codebase: https://t.co/f7wVnQqpPY
- Overview: https://t.co/6MnZbY5WLP
- https://t.co/CbpIdJp2fJ

Learnings from the field on threat hunting with LLMs:
- https://t.co/354jIQc8Pg
- https://t.co/pSiSIzDqqL

Learnings from securing code with Formal Verification:
- https://t.co/6PfRnPQpkm
- https://t.co/vlcYyIZN8l

[Sherif @SherifDefi]

lowkey think baibai could be one of the best airdrops this cycle

glad i decided to lock in early

[BaiBai @baibai_cx]

BaiBai is the #1 PropAMM on Base.

[Sherif @SherifDefi]

So, @Jason advice is to sell bitcoin and shift into ai and he added he is long on $TAO.

THE part i can't square: over 90 days tao moved with bitcoin at 0.71 and us chip stocks at 0.36.

When the market turns, it falls harder.

On the day alphabet missed, near lost 7.8% and bitcoin lost 1.4%.

I like the thesis behind the network.

But selling $BTC for ai tokens looks like the same bet with more beta.

I wouldn't call that a swap.

[@jason @Jason]

A brutal year for Bitcoin is just getting started.

Give me three minutes to explain why you should dump it now.

Outflows from ETFs are signal and will continue.

We will test the 57k low again in the next 12 months.

Why?

Because there are far too many dynamic places to put your money that are creating MUCH more value.

Why put your resources into a dead network that offers nothing beyond a store of value?

What's the point of place the BTC be if Bitcoin's Ponzi-scheme nature has gone away!?!

The viral nature of bitcoin was it's power... if you didn't own you were MOCKED!

Now? Completely reasonable, heck, SMARTER, to ignore bitcoin and place other bets!

No one is trying to convince people to buy Bitcoin anymore... the memes and NFTs are gone.

No one is saying $ BTC can change the world, because it won't — and BECAUSE AI HAS!

Just sell and shift from Bitcoin to Super Intelligence because one provides little to no value, and the other provides unlimited upside for humanity.

This should be obvious to everyone right now.

Bitcoin will never break its all-time high again.

[Sherif @SherifDefi]

Hackers really saw $6.3B in crypto and decided to call it payday

Meanwhile A7 International is probably wondering if they need help moving those funds 😂

[Sherif @SherifDefi]

$ETH sentiment is recovering, but I’m not convinced the community is following yet.

Looking at its Coin Insights on @nodiens:

— Sentiment: +2.2% in 7 days
— Community Strength: −0.2%
— Community Health: 80/100 (+0.7)
— Attention: +8.1 points

Sentiment is still down 9.4% over 30 days.

My read? The mood is improving faster than actual community strength.

I’d want to see participation pick up before trusting this rebound.